LIC MF Small Cap Fund
LIC Mutual Fund · Small Cap · Direct plan, growth option
NAV (₹), 1 Oct 2026
39.2790
1-day change
-1.18%
1Y return
14.8%
3Y CAGR
17.7%
5Y CAGR
n/a
Max drawdown, 5Y
n/a
NAV history month-end NAV, ₹ · 31 Jul 2023 to 1 Oct 2026
Returns vs Small Cap median (35 schemes)
| Period | Scheme | Category median |
|---|---|---|
| 1 month | -2.7% | -3.6% |
| 3 months | 3.0% | 1.3% |
| 6 months | 29.9% | 23.9% |
| Year to date | 18.4% | 12.0% |
| 1 year | 14.8% | 11.6% |
| 3 years (CAGR) | 17.7% | 14.7% |
| 5 years (CAGR) | n/a | 15.4% |
| 7 years (CAGR) | n/a | 23.3% |
| 10 years (CAGR) | n/a | 17.1% |
| Since first NAV (CAGR) | 18.4% | – |
Rolling returns every business-day start date
| Measure | Scheme | Category median |
|---|---|---|
| 1Y rolling median | 7.9% | 16.5% |
| 3Y rolling median | 19.2% | 21.7% |
| 3Y rolling worst | 17.7% | 0.0% |
| 3Y periods positive | 100% | 100% |
| 3Y periods ahead of benchmark | 100% | 68% |
| 5Y rolling median | n/a | 21.5% |
| 5Y rolling worst | n/a | 4.8% |
| 5Y periods ahead of benchmark | n/a | 92% |
Benchmark: Nifty Smallcap 250 (proxy: Motilal Oswal Nifty Smallcap 250 Index Fund, price return).
Risk 36 months, monthly returns, Rf 6.5%
| Measure | Scheme | Category median |
|---|---|---|
| Standard deviation (ann.) | 21.9% | 19.9% |
| Sharpe ratio | 0.54 | 0.49 |
| Sortino ratio | 0.84 | 0.77 |
| Beta | 0.95 | 0.86 |
| Alpha (ann.) | 4.9% | 2.9% |
| Upside capture | 99.20 | 87.14 |
| Downside capture | 85.23 | 82.75 |
Drawdowns peak-to-trough falls in NAV
| Measure | Scheme | Category median |
|---|---|---|
| Maximum drawdown, full history | −27.0% | −32.4% |
| Maximum drawdown, last 10Y | n/a | −47.5% |
| Maximum drawdown, last 5Y | n/a | −24.1% |
| Current drawdown | −4.3% | −4.3% |
| Recovery time of worst fall | 520 days | – |
Longer histories include more crises, so compare the 5Y and 10Y figures across schemes of different ages.
Market context from Integrato Market Intelligence
This scheme invests mainly in the market below, which is also close to how many of them are benchmarked. Where that market stands today:
17,589.05 −1.18%
NSE close, 1 Oct 2026
- P/E 34.1: higher than 92% of days since 2022 (median 28.8)
- 1Y +3.6% · 3Y +12.2% p.a. · 5Y +12.8% p.a. (index fund NAV, after costs)
- −5.1% from its 52-week high
Index levels and P/E: NSE daily index closing values; gold and silver: IBJA rates; returns: growth NAV of an index fund or ETF tracking the market (AMFI), so they are after that fund's costs. Context only: a market's level or valuation does not tell you how any scheme will perform. Explore all markets.
Direct or Regular for this scheme?
The Regular plan's expense ratio is 2.61% a year and the Direct plan's 1.28%, a gap of 1.33%; over the last 3 years the Direct plan returned 1.45 percentage points a year more. On a ₹25,000 monthly SIP for 20 years (illustration at 12% a year before costs) the gap adds up to about ₹28,77,901.
With the Regular plan, that cost pays a distributor to help you plan, choose and review funds, and stay invested when markets fall. Whether it is worth it depends on how much of that you will do yourself.
TER: AMFI TER disclosure. Returns: AMFI NAVs. Illustration, not a guaranteed saving or return.
Recent disclosure changes last 120 days, as disclosed via AMFI
- 1 Oct 2026: TER reduced from 1.32% to 1.28% (AMFI TER disclosure)
- 28 Sep 2026: TER increased from 1.31% to 1.32% (AMFI TER disclosure)
- 18 Sep 2026: TER reduced from 1.32% to 1.31% (AMFI TER disclosure)
- 15 Sep 2026: TER increased from 1.31% to 1.32% (AMFI TER disclosure)
- 8 Sep 2026: TER reduced from 1.32% to 1.31% (AMFI TER disclosure)
Fund managers and scheme facts Scheme Summary Document via AMFI
| Fund manager | Role | Managing since |
|---|---|---|
| Dikshit Mittal | Primary | 24 Jul 2025 |
| Sudhanshu Asthana | Comanage | 1 Sep 2026 |
Objective: The Investment objective of the scheme is to provide investors with the opportunities for long-term capital appreciation by investing predominantly in Equity and Equity related instruments of Small Cap Companies. There can be no assurance that the investment objective under the Scheme will be realized.
Stated asset allocation: Instrument: - Equity & Equity related instruments of Small Cap Companies Indicative allocation (% to total Assets): Minimum: 65%Maximum: 100%; Instrument: -Equity and equity related instruments other than Smallcap companies, Money market instruments, other liquid instruments, INVITs and mutual fund units including Gold/ Silver ETFs: Minimum: 0%Maximum: 35%. Please refer the Scheme Information Document for complete details.
Benchmark (tier 1): NIFTY Smallcap 250 - TRI
Exit load: Nil, If units of the Scheme are redeemed or switched out up to 12% of the units (the limit) within 12 months from the date of allotment. 1% of the applicable NAV, If units of the scheme are redeemed or switched out in excess of the limit within 12 months from the date of allotment. Nil, If units of scheme are redeemed or switched out after 12 months from the date of allotment.
Minimum application: ₹5,000
Allotment date: 21 Jun 2017
Documents: Scheme Information Document · Scheme Summary Document. Read the scheme documents before investing.
Cost, size and riskometer as disclosed to AMFI
| Measure | Scheme | Category median |
|---|---|---|
| Expense ratio (TER), Direct plan | 1.28% | 0.90% |
| AUM, whole scheme (₹ crore) | 841 | 5,373 |
| Riskometer | Very High | – |
TER: AMFI, TER of MF Schemes. AUM and riskometer: AMFI, Fund Performance, 30 Sep 2026.
Official benchmark and category consistency
| Measure | Scheme | Benchmark / category |
|---|---|---|
| Return, 1 year (AMFI) | 17.9% | 7.2% TRI |
| Return, 3 years (AMFI) | 18.1% | 14.0% TRI |
| Return, 5 years (AMFI) | 17.5% | 14.5% TRI |
Official benchmark: Nifty Smallcap 250 TRI (total return index, as published by AMFI). Category consistency: last 10 years of month-ends, Small Cap Direct plans; how it is calculated.
Calendar-year returns NAV change from 31 Dec to 31 Dec
| Year | Scheme | Nifty Smallcap 250 proxy | Difference |
|---|---|---|---|
| 2026 YTD | 18.4% | 5.5% | +12.9% |
| 2025 | -12.1% | -5.6% | −6.5% |
| 2024 | 41.5% | 26.5% | +15.0% |
Benchmark proxy: Motilal Oswal Nifty Smallcap 250 Index Fund (Direct plan NAV, price return), which carries its own costs. The first year starts from the first 31 December in the scheme's history.
Monthly SIP of ₹10,000 first business day of each month, ending 1 Oct 2026
| Period | Invested | Value | XIRR |
|---|---|---|---|
| 1 year | ₹1,20,000 | ₹1,37,174 | 27.5% |
| 3 years | ₹3,60,000 | ₹4,39,774 | 13.4% |
Uses this plan's NAVs; ignores stamp duty, exit loads and taxes. One historical path only — the interactive SIP analyzer shows outcomes across every start date.
Scheme facts
AMC: LIC Mutual Fund
Category: Small Cap
Plan / option: Direct · Growth
AMFI scheme code: 152004
ISIN: INF397L01JS1
First NAV in MFIC data: 31 Jul 2023
History: 3.2 years
Portfolio holdings: see the scheme's monthly portfolio disclosure on the fund house website
Schemes that behaved similarly correlation of monthly returns, last 5 years
| Scheme | Category | Correlation | 3Y CAGR |
|---|---|---|---|
| ITI Small Cap Fund | Small Cap | 0.96 | 23.2% |
| Kotak Small Cap Fund | Small Cap | 0.96 | 11.6% |
| BANK OF INDIA SMALL CAP FUND | Small Cap | 0.96 | 21.7% |
| Nippon India Small Cap Fund | Small Cap | 0.96 | 14.3% |
| Axis Small Cap Fund | Small Cap | 0.96 | 14.7% |
| Canara Robeco Small Cap Fund | Small Cap | 0.96 | 11.3% |
Questions about LIC MF Small Cap Fund
- What is the latest NAV of LIC MF Small Cap Fund?
- The NAV of the Direct plan (growth option) was ₹39.2790 on 1 Oct 2026, as published by AMFI.
- Which category is LIC MF Small Cap Fund in?
- It is classified as Small Cap in AMFI's daily NAV file; a Small Cap scheme invests at least 65% in small-cap stocks. MFIC compares it with 35 Small Cap schemes (Direct plans).
- What returns has LIC MF Small Cap Fund delivered?
- Over one year the NAV changed by 14.8%. The 3-year CAGR is 17.7% (category median 14.7%). Returns are after expenses and before tax. Past performance may or may not be sustained in future.
- How consistent have its 3-year returns been?
- Measuring a 3-year CAGR from every business day in its history, the median was 19.2%, the lowest was 17.7%, and 100% of 3-year periods ended with a gain. It was ahead of Nifty Smallcap 250 (index-fund proxy) in 100% of those periods.
- What was the largest fall in LIC MF Small Cap Fund's NAV?
- The largest peak-to-trough fall in its available history was 27.0%.
- How volatile is LIC MF Small Cap Fund?
- Its annualised standard deviation of monthly returns over the last 36 months is 21.9%, which is above the Small Cap category median of 19.9%.
- What would a monthly SIP in LIC MF Small Cap Fund have grown to?
- A SIP of ₹10,000 on the first business day of each month for the last 3 years (36 instalments, ₹3,60,000 invested) would have been worth about ₹4,39,774 on 1 Oct 2026, an annualised return (XIRR) of 13.4%. This uses the Direct plan's NAVs, ignores taxes and exit loads, and past performance may or may not be sustained in future.
- What is the expense ratio (TER) of LIC MF Small Cap Fund?
- The total expense ratio of the Direct plan is 1.28% a year, as disclosed to AMFI (median of Small Cap Direct plans: 0.90%). It is already deducted from the NAV, so every return shown is after expenses.
- How large is LIC MF Small Cap Fund?
- Assets under management of the whole scheme were ₹841 crore on 30 Sep 2026, as published by AMFI.
- What is the riskometer level of LIC MF Small Cap Fund?
- AMFI lists the scheme's riskometer as “Very High”, and its benchmark's as “Very High”. The riskometer is a label of potential risk set under SEBI rules, not a forecast.
- What is the benchmark of LIC MF Small Cap Fund and how has it compared?
- Its official benchmark is the Nifty Smallcap 250 TRI. Over 3 years AMFI reports a return of 18.1% for this plan against 14.0% for the benchmark total return index; over 5 years 17.5% against 14.5%. Past performance does not indicate future results.
- Who manages LIC MF Small Cap Fund?
- According to its Scheme Summary Document, LIC MF Small Cap Fund is managed by Dikshit Mittal (since 24 Jul 2025), Sudhanshu Asthana (since 1 Sep 2026).
- What is the exit load of LIC MF Small Cap Fund?
- As stated in its scheme documents: Nil, If units of the Scheme are redeemed or switched out up to 12% of the units (the limit) within 12 months from the date of allotment. 1% of the applicable NAV, If units of the scheme are redeemed or switched out in excess of the limit within 12 months from the date of allotment. Nil, If units of scheme are redeemed or switched out after 12 months from the date of allotment. Check the latest Scheme Information Document before investing, as loads can change.
- What is the minimum investment in LIC MF Small Cap Fund?
- The minimum application amount is ₹5,000. SIP details: SIP Details - 100, 150,200, 1000 | SWP Details - 500,500,500,500 | STP Details - 100, 500, 500, 500.
- What is the difference between the Direct and Regular plans?
- Both plans hold the same portfolio; the Regular plan includes distribution costs in its expense ratio. Over one year the Direct plan's NAV changed by 14.8% and the Regular plan's by 13.3%. The Regular plan includes the services of a distributor.
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Data & disclosure. Source: AMFI daily NAV file and historical NAVs via mfapi.in; calculations by MFIC, as of 1 Oct 2026. Category medians use Direct plans in the same AMFI category. Mutual fund investments are subject to market risks; read all scheme-related documents carefully. Past performance may or may not be sustained in future. This page is for research and education only and is not investment advice or a recommendation to buy, sell or hold any scheme. Integrato Financial Services Pvt. Ltd. is an AMFI-registered Mutual Fund Distributor (ARN-173155). Methodology.